SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips.
The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at 6.6 trillion won ($4.8 billion), up from the 640 billion won ($465 million) it earned during the same period last year.
Revenue rose by nearly 13% to 71.9 trillion won ($52 billion), driven by higher prices for memory chips and robust sales of its flagship Galaxy S24 smartphones, the company said.
The company earned 1.91 trillion won ($1.38 billion) in operating profit from its semiconductor business, marking the division’s first quarterly profit since the fourth quarter of 2022, as the chip market continues to recover from a cyclical slump deepened by the COVID-19 pandemic and global trade tensions.
Related articles:
Related suggestion:
Hong Kong anthem bill passed amid protestWilmer Valderrama talks NCIS franchise's 1,000th episode, show's enduring legacyWilmer Valderrama talks NCIS franchise's 1,000th episode, show's enduring legacyArgentine ant sniffer dog averts potential disaster on Matiu / Somes IslandFinance minister should resign over scrapping of Interislander upgrade fundingMinistry of Health job losses 'cutting really deep'Knife attack at China school injures dozensHong Kong news: Hong Kong police block Tiananmen Square candlelit vigilChina passes Hong Kong security billChina passes Hong Kong security bill
2.5589s , 6495.765625 kb
Copyright © 2024 Powered by Samsung reports 10 ,Global Guide news portal